State Street Corporation, provider of financial services to institutional investors, has partnered with F&C Investments to provide an environmental, social and governance (ESG) reporting service to enable investors to meet their stewardship goals.
F&Cs ESG service provides investors with comprehensive, global engagement reporting, enabling them to fulfill their UN Principles for Responsible Investment (PRI) reporting needs*. Investors that can benefit from this service include pension fund managers and pension fund trustees, institutional clients including endowments, foundations and sovereign wealth funds and financial institutions seeking to implement best practice responsible investment and enhance the long term value of their investments. The new service will enable State Street to provide its clients with comprehensive ESG engagement reports available on mystatestreet.com.
Wade McDonald, head of client management and sales for State Streets Global Services business in the UK Middle East and Africa commented, We are the first investment service provider to bring this service from F&C directly to institutional investors. As part of State Streets broader investment analytics suite of services, the ESG reporting service has the information needed to support our clients fiduciary and regulatory duties, ensuring their investments in companies that demonstrate a global commitment to environmental and social responsibility and corporate governance. We provide institutional investors with the ability to implement and manage a responsible investment strategy so they can communicate positive engagement outcomes to their stakeholders.
Karina Litvack, head of governance and sustainable investment at F&C commented, Partnering with State Street for this new service will enable their clients to be better informed on ESG issues and better placed to assess any potential ESG risks and opportunities, key factors in investment decisions today. F&Cs approach to ESG recognises that investment returns over the long-term are driven primarily by the performance of innovative, well-managed corporations that, in themselves, are dependent on the health of the human societies and ecological systems that sustain economic enterprise.
State Street is committed to being a leader in environmental sustainability and providing our clients with a range of ESG products as they continue to value the importance and manage the impact on their business, said Pat Centanni, executive vice president, head of global product management and chair of State Streets ESG Committee.
Each year, F&C engages approximately 6,000 companies through active dialogue on material ESG issues such as biodiversity and climate change, human rights and labour standards, corporate governance, bribery and corruption, business ethics and sustainability management and reporting. It identifies companies for engagement based on client input, financial exposure, material ESG risks, governance practices and ability to influence.
D.C.